The full IFoA Board comprises five member non-executive directors (mNEDs) of which one is the President, three independent non-executive directors (iNEDs) of which one is the Chair, and the CEO. The new appointments to the IFoA Board are:
• Kudzai Chigiji (mNED)
• Sheila Kumar (iNED)
• Tony O’Riordan (mNED)
• Aaron Porter (iNED)
• Andrew Rear (mNED)
• Hitesh Shah (mNED)
Confirmation of the full Board is a significant milestone in the implementation of the IFoA’s governance reforms. The new structure will align the IFoA with best practice in modern corporate governance, with the board taking the lead on setting the organisation’s strategy. The board will be responsible for oversight of the Executive which has responsibility for running day-to-day operations.
Council will provide guidance to the board but its main focus will now be on the development of the long-term vision. These changes are designed to modernise the organisation and ensure that it continues to serve both the needs of its members and the wider public interest.
IFoA Board Chair Lord Currie said: “The calibre of applications for the board roles was excellent in what has been a competitive recruitment process. In assembling this board, our focus has been on appointing a team with complementary skills and experiences. I believe we have found the right mix, putting us in the best possible position to meet the needs of the IFoA and our members.”
IFoA President Kalpana Shah said: “Council is very pleased with the progress Lord Currie has made in recruiting such a high-calibre board. The formation of the new Board along with Council agreeing the new vision for the IFoA and making significant headway on shaping its own future means that as an organisation, we are making strong progress with our governance reform programme.”
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